on November $1,$ Year $1?$

Multiple Choice

Option A

Option B

Option C

Option D

On November 1, Year 1 Cove Company borrowed $8,300 cash from Shelter Company. The one-year note carried a 20% rate of interest Which of the following shows how the loan will affect Cove's financial statements on November 1, Year 1? Balance Sheet Liabilities + Equity Revenues Income Statement Expenses Income A. B. c. D. Assets 8, 300 (8, 300) Multiple Choice Net Statement of Cash Flows (8,300) IA (8,30) 8,30 (8,30) IA O O O O Option A Option B Option C Option D